The FBI and the US Justice Department are both experimenting with cryptography. Recent high-profile triumphs provided both organisations with the impetus they needed to act. The Justice Department has appointed “a seasoned computer crimes prosecutor” as their new crypto zar, according to Reuters. “The FBI is launching a unit for blockchain analysis and virtual asset confiscation,” according to the press release. Both actions demonstrate the United States’ changed attitude regarding cryptocurrency.
There is rising anxiety about the market’s reaction to these high-profile seizures. Will the BTC be handed over to Bitfinex by law enforcement? Will it be auctioned instead? Will the United States accept it as Bitcoin on its balance sheet? What role will law enforcement play in this situation? What happens if the coins make it to the market in any of those ways?
The Bitfinex hack could become a watershed moment in terms of the government’s approach to all of this. Don’t worry, NewsBTC will keep a close eye on everything that happens.
That’s all new from the FBI.
